It's
important to understand that there is a difference between avoiding tax and
minimising tax. It's only natural to want to minimise the amount of tax you pay
and there are many legal ways to do this. At this time of year particularly,
you might be considering entering into a tax-effective investment or other tax
planning arrangement. However, you need to be cautious of ending up in a tax
avoidance scheme. There's nothing to like about the consequences of that! If you've been investing for a while, or
you're quite financially savvy, you might think it couldn't happen to you.
Apart from the fact that, on face value, many tax avoidance schemes appear
legitimate, often people promoting these arrangements also use pressure tactics
or offers of exclusivity to influence you to 'sign on the dotted line' before
you have a chance to really investigate what you're getting into or seek any
external advice. It's always worth taking the time to
check things out where your money is concerned. A little time and effort now
might save you a lot of trouble later. And a lot of money. For more information call Alan Beck at BASMAN RETURNS on 0419 671 602 or email alan@basman.com.au |
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CategoriesAccountingBusiness News Tax XERO Accounting Software |
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